David Freeman announced today via a letter from his attorney that he is stepping down as the Chairman of the Nashville Predators. The letter was delivered to the Nashville Sports Authority mid-morning by Freeman's counsel, J. Allen Roberts of the firm Wyatt, Tarrant, and Combs.
At first blush, this appears to be bad news for the Predators and the ownership group. However, further examination of this action by Freeman is both practical and prudent on his part.
The point of contention between the Sports Authority and David Freeman is whether he is in default on his personal guaranty to the City because of an unresolved tax lien placed on Freeman for his 2007 taxes. Freeman signed the guarantee to the City in Aug. of 2008, and according to his attorney, was not in default at the time of the execution because the IRS had not disputed his 2007 tax filing.
Because of the subsequent dispute with the IRS and their filing of a lien on his personal property for $3.3 million, the Sports Authority is now attempting to to claim there was an "immediate breach" of the guaranty. This fact is disputed by Freeman's attorney, and common sense would side w ...
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Article written by Mark Willoughby
Predators’ Chairman David Freeman Steps Down
March 1st, 2010 by Mark Willoughby Leave a reply »
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